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Stock impact report

Wall Street is divided over whether immigration is behind US hiring slowdown [Fortune]

Citigroup, Inc. (C) 
Last citigroup, inc. earnings: 4/15 08:00 am Check Earnings Report
US:NYSE Investor Relations: citigroup.com/citi/investor/pres.htm
Company Research Source: Fortune
Some argue the pullback in hiring mostly reflects a smaller supply of workers, thanks in part to President Donald Trump's immigration crackdown. Others say the slowdown is largely due to a more concerning retrenchment in demand. The distinction is critical. If difficulty finding workers is the main factor, weak hiring trends probably aren't foreshadowing wider layoffs, and the Federal Reserve can keep interest rates high. But if hiring is mostly slowing because of waning demand for labor, that would call for the central bank to intervene. “Whether what we're seeing is all immigration effects or if it's true demand effects is definitely the key question,” said Veronica Clark, an economist at Citigroup Inc. “There very likely are some immigration effects in the data, but details also suggest weaker demand unrelated to immigration, which seems to be getting worse.” The latest jobs report from the Bureau of Labor Statistics, published on Aug. 1, shocked financial markets with weak Show less Read more
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